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MASBO Business Administrator's Bookshelf: Financial Management: Accounting & Financial Planning
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In memorium

“Pupils equal dollars, dollars equal pupils”– Dr. Leo P. Turo


Educational Enterprise

Financial Resource Management

Human Resource Management

Facility Management

Property Acquisition and Management

Information Management

Ancillary Services





Accounting, Auditing, and Financial Reporting

1.         Town meeting is responsible for all appropriations (40:5) and for the enactment of all bylaws. (43B: 13) It acts on behalf of the town to accept local option statutes, unless a statute specifies another mode of  acceptance. (4:4) Town meeting may authorize the selectmen to sell town land (40:3) or to act as water and sewer commissioners, assessors, etc. (41:21) The town meeting also decides whether to establish certain town boards (such as trust fund commissioners under 41:45).

2.         Bulletin 34: Municipal Finance Law (Department of Revenue or the State Bookstore)

3.         Uniform Massachusetts Accounting System - DLS (

4.         Guidelines for Student Financial Reporting – DLS

   603 CMR 10.00: School Finance


Authority, Scope and Purpose




Accounting and Reporting: School Districts


Financial Accounting and Reporting: Other Municipal Departments


Documentation Requirements


Annual School Spending Requirements


Special Education Payments and Reimbursements


Transportation Reimbursement, Resident Students


Transportation Reimbursement, School Choice, Homeless and Charter School Students


Audit Procedures

View All Sections

Most recently amended by the Board of Education: June 25, 2013.


            6.              PASBO Electronic Resource Center (

            7.              Ed Milot, CPA (www.

            8.              MGFOA Audit committee

            9.              GAAP


 B.           Auditing

           C.             Financial Reporting

      1. RADAR
      2. End of year report
      3.  DART

District Analysis Review Tools (DARTs) The District Analysis and Review Tools (DARTs) turn the Department's vast amount of data into valuable, easily consumable information. The DARTs offer snapshots of district and school performance, allowing users to easily track select data elements over time, and make sound, meaningful comparisons to the state or to "comparable" organizations. The data elements in each DART tool are linked to a broader strategic framework defining the characteristics of effective educational organizations and cover a broad range of district and school interests including demographic, assessment, student support, educator, financial, and achievement gap data. The DARTs, in combination with other tools found on this website, may be utilized by district and school leaders in enacting each of the six district standards upon which district reviews, improvement planning, and other forms of accountability and assistance are based: Leadership & Governance, Curriculum & Instruction, Assessment, Human Resources & Professional Development, Student Support, and Financial & Asset Management.






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Hopkinton, MA 01748
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In principle and in practice, the Association values and seeks diverse and inclusive participation within the field of school business management. MASBO promotes involvement and access to leadership opportunities to all members regardless of race, ethnicity, gender, religion, age, sexual orientation, nationality, or disability.
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MASBO is a non-profit professional organization of school administrators whose responsibilities include the business affairs of public and non-public schools. They may be wholly, or partially, responsible for budgeting, school finance, accounting, purchasing and supply management, transportation,maintenance and operation, school plant planning and construction... read more.

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